Tuesday, September 23, 2014

News from here

The Cedi has officially gained over 9% against the dollar in the last month. Of course you can't buy any dollars at the official exchange rate. The actual rate you pay to buy dollars is still around 3.8 rather than the official 3.55 and be as high as 4.1. But, at least the currency has stopped falling. It should hold steady at about 4 for the dollar as the real exchange rate for the next few months. Or at least I hope it remains stable or goes up. So it looks like Ghana will avoid a complete collapse of its currency like Weimar Germany/Zimbabwe. That is good news. In more good news the Nigerians are resuming gas exports to Ghana. But, there is alas some bad news as well. The risk of getting fatal diseases from eating off the street seems to be going up rather than down. A student at University Cape Coast recently died of food poisoning after eating some contaminated wakaaye over the weekend. So I am going back to not eating at the night market after having lunch there once this weekend before I read about the UCC student dying of food poisoning.

No comments: